Ben Sissman, Attorney at Law
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July 2014 Archives

Chapter 13 most popular bankruptcy filing in Memphis

When individuals consider their financial situation, they may find themselves wondering what the best way to handle their debt could be. Bankruptcy may be an option they consider, but Memphis residents may also feel that filing for Chapter 13 or other forms of bankruptcy may negatively separate them from other individuals who are trying to handle their difficult financial situations. However, individuals may be interested in knowing that thousands of filings for bankruptcy are submitted every year.

Considering interest fees could help with debt relief

One of the main issues that can cause a Tennessee resident to have a greater debt burden is the amount of interest they must pay on their remaining balances. Interest significantly affects the amount of money that is due to credit card companies. Luckily, individuals may have options for reducing the amount of interest they must pay as well as other debt relief options that could benefit their situations.

Credit card debt may make Tennessee residents feel irresponsible

For many Tennessee residents, one of their most embarrassing and shameful situations could be the amount of credit card debt that they have accumulated. They may fear that their credit card debt points to a lack of ability to properly handle their finances. However, individuals should not necessarily feel as if they are irresponsible if they have accumulated significant debt because many factors can lead to individuals maintaining debt balances.

Chapter 7 could benefit Tennessee residents who qualify

When a Tennessee resident is in a difficult financial situation, many different options may be considered. Chapter 7 bankruptcy may be one of those options, but an individual may have some reservations with going that route. However, parties should know that bankruptcy can have many benefits for those who qualify and follow through.

Credit card debt could be kept low by avoiding certain situations

Some Tennessee residents may wonder how their financial situation got so out of control. Individuals may not always realize how quickly credit card debt can add up, and if they use their cards in unnecessary situations, the balances could quickly accrue. By avoiding credit card use during some instances, some people may be better able to reduce the likelihood of unexpectedly high balances.

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Ben Sissman, Attorney at Law
44 North Second Street, Suite 403
Memphis, TN 38103

Phone: 901-730-4958
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